Lender Comparison 2026
As an independent broker, Joseph has no allegiance to any single bank. Here is the unfiltered comparison of Canada's four reverse mortgage providers.
| Features | HomeEquity Bank | Equitable Bank | Bloom Finance | Home Trust |
|---|---|---|---|---|
| Est. Market Entry | 1986 (Pioneer) | 2018 | 2021 | 2025 (Newest) |
| Maximum LTV | Up to 55% | Up to 59% | Up to 55% | Up to 59% |
| Minimum Age | 55 | 55 | 55 | 55 |
| Setup Fee | $1,795 | $995 | $0 (Often Promo) | $995 |
| Best Unique Feature | Income Advantage (monthly draws) | Aggressive urban appraisals | SafeRate (Lifetime Fixed Rate) | High LTV allowances |
| No Negative Equity | ||||
| Income Qualification Required | No | No | No | No |
The HELOC Qualification Problem Nobody Talks About
The most common advice online is “just get a HELOC instead.” Here's what that advice misses:
A HELOC requires you to qualify based on income. Most Canadian seniors living on CPP and OAS alone — typically $18,000–$24,000/year combined — do not meet the income threshold to qualify for a meaningful HELOC.
A reverse mortgage has NO income requirement, NO credit score requirement, and NO monthly payment obligation. For the seniors who genuinely need home equity access, a reverse mortgage is often not just the best option — it's the only option.
Why Calling CHIP Directly Costs You Money
If you call HomeEquity Bank directly, you only see their rates — not the market. You have no negotiating leverage, may qualify for more with another lender, and will never know if a better option saves you tens of thousands.
As your independent broker, we submit your profile to all four lenders simultaneously. They compete for your business. You get the best available rate and terms — at zero cost to you.
Don't settle for the first quote you get.
Because we work with all four, we make lenders compete for your business. We handle the paperwork, and the service is entirely free to you.